Asia Pacific Automotive Tow Bars Market Forecast to 2030 - Regional Analysis - By Product (Fixed Tow Bars, Detachable Tow Bars, Retractable Tow Bars, and Others) and Vehicle Type (Passenger Cars and Commercial Vehicle)

Description

List of Tables

The Asia Pacific automotive tow bars market was valued at US$ 1,280.29 million in 2022 and is expected to reach US$ 2,049.79 million by 2030; it is estimated to grow at a CAGR of 6.1% from 2022 to 2030.

Growing Popularity of Foldable and Retractable Tow Bars Drive Asia Pacific Automotive Tow Bars Market

Foldable and retractable tow bars can be conveniently stowed when not in use. This feature is particularly appealing to consumers who want to maintain a clean and uncluttered vehicle exterior when the tow bar is not in use. It also prevents accidental damage to the tow bar when not in use. Foldable and retractable tow bars are adaptable to different towing needs and various types of trailers and equipment. Users can easily engage or disengage the tow bar, making it suitable for a range of towing applications. Foldable and retractable tow bars are designed to securely lock into position when in use, ensuring the safety of towing operation. Proper locking of a tow bar reduces the risk of accidents caused by an improperly hitched trailer. Owing to such advantages, various automotive manufacturers are integrating foldable and retractable tow bars in their automotive offerings. During a product launch event on June 15, 2022, NIO unveiled several notable vehicles, including the ES7 (a smart electric mid-large SUV), alongside the 2022 ES8, ES6, and EC6 models. Of particular significance, the ES7 stands out as one of the pioneering passenger vehicles. This achievement is made possible by including an optional retractable electric tow bar with an impressive maximum towing capacity of 2,000 kg. Thus, the growing popularity of foldable and retractable tow bars propels the automotive tow bar market growth.

Asia Pacific Automotive Tow Bars Market Overview

The automotive tow bars market in APAC comprises countries such as China, India, Japan, Australia, South Korea, and the Rest of APAC. The economy of the region is performing well due to numerous technological and infrastructural developments. The region has a strong automotive sector, which is supported by the growing automotive manufacturing industry in countries such as India, China, and South Korea. Countries such as India, China, South Korea, and Japan are among the leading vehicle manufacturing countries across the world. Increasing number of car manufacturers and presence of a strong automotive sector drive the growth of the automotive tow bars market in the region.

In APAC, China is the largest market owing to its leading automotive market. Also, the growing automotive component sales will propel the demand for automotive tow bars. The growing adoption of advanced technologies and increasing demand for using unpowered trailers and caravans would accelerate the automotive tow bar market growth. Furthermore, the automotive vehicle demand in APAC, together with the growing passenger cars and commercial vehicle production in China and other countries, would enable the automotive tow bar manufacturers to increase their presence in this region.

Asia Pacific Automotive Tow Bars Market Revenue and Forecast to 2030 (US$ Million)

Asia Pacific Automotive Tow Bars Market Segmentation

The Asia Pacific automotive tow bars market is segmented based on product, vehicle type, and country.

Based on product, the Asia Pacific automotive tow bars market is segmented into fixed tow bars, detachable tow bars, retractable tow bars, and others. The detachable tow bars segment held the largest share in 2022.

In terms of vehicle type, the Asia Pacific automotive tow bars market is bifurcated into passenger cars and commercial vehicle. The passenger cars segment held a larger share in 2022.

Based on country, the Asia Pacific automotive tow bars market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific automotive tow bars market in 2022.

AutoPacific Australia Pty Ltd, BOSAL Group, Brink Group, BTA Towing Equipment, and North Shore Towbars are some of the leading companies operating in the Asia Pacific automotive tow bars market.

Product Code: TIPRE00012168

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Asia Pacific Automotive Tow Bars Market Landscape

4.1 Overview
4.2 Ecosystem Analysis
- 4.2.1 Manufacturers
- 4.2.2 Wholesalers
- 4.2.3 Distributors and Retailers
- 4.2.4 Installation Service Providers
- 4.2.5 After Service Segment

5. Asia Pacific Automotive Tow Bars Market - Key Industry Dynamics

5.1 Market Drivers
- 5.1.1 Increased Automotive Production
- 5.1.2 Growing Popularity of Foldable and Retractable Tow Bars
- 5.1.3 Tow Bars Serve as an Optimum Towing Equipment
5.2 Market Restraints
- 5.2.1 Preference for Rental Towing Services
- 5.2.2 High Cost of Automotive Tow Bars
5.3 Market Opportunities
- 5.3.1 Integration Smart technology
- 5.3.2 Growth of the E-Commerce Industry
5.4 Future Trends
- 5.4.1 Integration Of Swivelling Mechanism with Conventional Tow Bars
5.5 Impact of Drivers and Restraints:

6. Automotive Tow Bars Market - Asia Pacific Market Analysis

6.1 Asia Pacific Automotive Tow Bars Market Revenue (US$ Million), 2022 - 2030
6.2 Asia Pacific Automotive Tow Bars Market Forecast and Analysis

7. Asia Pacific Automotive Tow Bars Market Analysis - Product

7.1 Overview
- 7.1.1 Asia Pacific Automotive Tow Bars Market, By Product (2022 and 2030)
7.2 Retractable Towbar
- 7.2.1 Overview
- 7.2.2 Retractable Towbar Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Detachable Tow Bars
- 7.3.1 Overview
- 7.3.2 Detachable Tow Bars Market, Revenue and Forecast to 2030 (US$ Million)
7.4 Fixed Tow Bars
- 7.4.1 Overview
- 7.4.2 Fixed Tow Bars Market Revenue, and Forecast to 2030 (US$ Million)
7.5 Others
- 7.5.1 Overview
- 7.5.2 Others Market Revenue, and Forecast to 2030 (US$ Million)

8. Asia Pacific Automotive Tow Bars Market Analysis - Vehicle Type

8.1 Overview
- 8.1.1 Asia Pacific Automotive Tow Bars Market, By Vehicle type (2022 and 2030)
8.2 Passenger Cars
- 8.2.1 Overview
- 8.2.2 Passenger Cars Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Commercial Vehicles
- 8.3.1 Overview
- 8.3.2 Commercial Vehicles Market Revenue, and Forecast to 2030 (US$ Million)

9. Asia Pacific Automotive Tow Bars Market - Country Analysis

9.1.1 Asia Pacific Automotive Tow Bars Market Revenue and Forecasts and Analysis - By Country
- 9.1.1.1 Asia Pacific Automotive Tow Bars Market Revenue and Forecasts and Analysis - By Country
- 9.1.1.2 Australia Automotive Tow Bars Market Revenue and Forecasts to 2030 (US$ Mn)
  - 9.1.1.2.1 Australia Automotive Tow Bars Market Breakdown by Product
  - 9.1.1.2.2 Australia Automotive Tow Bars Market Breakdown by Vehicle Type
- 9.1.1.3 China Automotive Tow Bars Market Revenue and Forecasts to 2030 (US$ Mn)
  - 9.1.1.3.1 China Automotive Tow Bars Market Breakdown by Product
  - 9.1.1.3.2 China Automotive Tow Bars Market Breakdown by Vehicle Type
- 9.1.1.4 India Automotive Tow Bars Market Revenue and Forecasts to 2030 (US$ Mn)
  - 9.1.1.4.1 India Automotive Tow Bars Market Breakdown by Product
  - 9.1.1.4.2 India Automotive Tow Bars Market Breakdown by Vehicle Type
- 9.1.1.5 Japan Automotive Tow Bars Market Revenue and Forecasts to 2030 (US$ Mn)
  - 9.1.1.5.1 Japan Automotive Tow Bars Market Breakdown by Product
  - 9.1.1.5.2 Japan Automotive Tow Bars Market Breakdown by Vehicle Type
- 9.1.1.6 South Korea Automotive Tow Bars Market Revenue and Forecasts to 2030 (US$ Mn)
  - 9.1.1.6.1 South Korea Automotive Tow Bars Market Breakdown by Product
  - 9.1.1.6.2 South Korea Automotive Tow Bars Market Breakdown by Vehicle Type
- 9.1.1.7 Rest of Asia Pacific Automotive Tow Bars Market Revenue and Forecasts to 2030 (US$ Mn)
  - 9.1.1.7.1 Rest of Asia Automotive Tow Bars Market Breakdown by Product
  - 9.1.1.7.2 Rest of Asia Automotive Tow Bars Market Breakdown by Vehicle Type

10. Industry Landscape

10.1 Overview
10.2 Market Initiative
10.3 New Product Development
10.4 Merger and Acquisition

11. Company Profiles

11.1 AutoPacific Australia Pty Ltd
- 11.1.1 Key Facts
- 11.1.2 Business Description
- 11.1.3 Products and Services
- 11.1.4 Financial Overview
- 11.1.5 SWOT Analysis
- 11.1.6 Key Developments
11.2 BOSAL Group
- 11.2.1 Key Facts
- 11.2.2 Business Description
- 11.2.3 Products and Services
- 11.2.4 Financial Overview
- 11.2.5 SWOT Analysis
- 11.2.6 Key Developments
11.3 Brink Group
- 11.3.1 Key Facts
- 11.3.2 Business Description
- 11.3.3 Products and Services
- 11.3.4 Financial Overview
- 11.3.5 SWOT Analysis
- 11.3.6 Key Developments
11.4 BTA Towing Equipment
- 11.4.1 Key Facts
- 11.4.2 Business Description
- 11.4.3 Products and Services
- 11.4.4 Financial Overview
- 11.4.5 SWOT Analysis
- 11.4.6 Key Developments
11.5 North Shore Towbars
- 11.5.1 Key Facts
- 11.5.2 Business Description
- 11.5.3 Products and Services
- 11.5.4 Financial Overview
- 11.5.5 SWOT Analysis
- 11.5.6 Key Developments

12. Appendix

12.1 About The Insight Partners
12.2 Word Index